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Category: Home Prices

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A Newly Built Home May Actually Be More Budget-Friendly

Written by Key West Mortgage Syndicated User on . Posted in Buying Tips, For Buyers, Home Prices, Key West Florida News, Key West News.

If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie.Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option.Reason 1: Lower Median Prices for Newly Built HomesThe median sales price for...

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Unlocking Homebuyer Opportunities in 2024

Written by Key West Mortgage Syndicated User on . Posted in Buying Tips, For Buyers, Home Prices, Inventory, Key West Florida News, Key West News.

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:They couldn’t find anything in their price rangeThey didn’t have any successful offers or had difficulty competingThey couldn’t find the right homeIf any of these sound like why you stopped looking, here’s what...

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Housing Market Forecast for the 2nd Half of 2024 [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in Forecasts, Home Prices, Infographics, Key West Florida News, Key West News, Mortgage Rates.

Some HighlightsWondering what the second half of the year holds for the housing market? Here’s what expert forecasts say. Home prices are expected to climb moderately. Mortgage rates are forecast to come down slightly. And, home sales are projected to hold steady.If you have questions about what to expect for the rest of the year, connect with a local agent to have a conversation about what it means for you and your plans.

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Focus on Time in the Market, Not Timing the Market

Written by Key West Mortgage Syndicated User on . Posted in Economy, For Buyers, Home Prices, Key West Florida News, Key West News.

Should you buy a home now or should you wait? That’s a big question on many people’s minds today. And while what timing is right for you will depend on a lot of other personal factors, here’s something you may not have considered.If you’re able to buy at today’s rates and prices, it may be better to focus on time in the market, rather than timing the market. The Downside of Trying To Time the Market Trying to time the market isn’t a good strategy because things can change. Here’s an example. For the better part of this year, projections have said mortgage rates will come down. And while...

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Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

Written by Key West Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Forecasts, Home Prices, Inventory, Key West Florida News, Key West News.

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.Home Prices Are Expected To Climb ModeratelyHome prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry:The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), explains:“One thing that seems to be pretty solid is that home prices are going to continue to go up, and the...

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Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC]

Written by Key West Mortgage Syndicated User on . Posted in Agent Value, Home Prices, Infographics, Key West Florida News, Key West News.

Some HighlightsThe asking price for your house can impact your bottom line and how quickly it sells.Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your agent for their expertise.Don’t pick just any price for your listing. Trust your real estate professional to help you find the perfect price for your house.

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What’s Next for Home Prices and Mortgage Rates?

Written by Key West Mortgage Syndicated User on . Posted in Featured, For Buyers, Home Prices, Key West Florida News, Key West News, Mortgage Rates.

If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates. You’re wondering what’s going to happen next. And if it’s worth it to move now, or better to wait it out.The only thing you can really do is make the best decision you can based on the latest information available. So, here’s what experts are saying about both prices and rates.1. What’s Next for Home Prices? One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey...

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What You Really Need To Know About Home Prices

Written by Key West Mortgage Syndicated User on . Posted in Featured, Home Prices, Key West Florida News, Key West News.

According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know.A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains:“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation...

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